Chu Chua, British Columbia

The Chu Chua Copper Gold Deposit

PROJECT HISTORY

Chu Chua was discovered in 1978 by Craigmont Mines. Chu Chua is located approximately 30km north of Kamloops, British Columbia, with excellent access and infrastructure. The deposit is a Cyprus-type volcanogenic massive sulphide body hosted in two steeply dipping lenses of massive pyrite-chalcopyrite and magnetite up to 40m thick, with a known strike length of 400m and a known depth of 250m.

KEY POINTS

• 100% interest
• 98 historical diamond drill holes totaling over 19,000m in resource area
• Inferred resource of 2.29 million tonnes averaging 2.11% copper, 9.99 g/t silver, 0.5 g/t gold and 0.3% zinc
• Grades for resource estimate capped at 5.9% copper, 32 g/t silver and 1.4 g/t gold
• Over 92% copper recovery producing a 22% copper concentrate
• 75% of deposit lies within 100m depth from surface
• Mineralization occurs over 480m strike length and 180m depth

RESOURCE AND METALLURGY

A NI 43-101 compliant resource estimate by APEX Geoscience Ltd. completed in 2021 reported an Inferred Resource of 2.5 million tonnes averaging 2% copper, 9.4 g/t silver, 0.5 g/t gold and 0.3% zine, using a 1% copper cut-off.

Past Metallurgical work conducted by ALS Metallurgy on core samples from Chu Chua reported copper recoveries up to 92%. A single preliminary flotation test produced a 22.4% copper concentrate and further testing may result in improved concentrate copper grades.